The 4th Industrial Revolution
Industry 4.0 is the digitalization of industrial businesses. Of course, industry was an early adaptor of accounting, inventory and enterprise resource planning software but the digitalization of industry is a very recent phenomenon.
So what is Industry 4.0 and how come it only happened recently?
Up to this point we have (not all of us, of course) witnessed 3 stages of industrialization. The 1st stage is the famous industrial revolution. The 2nd industrial revolution came with the commercialization of electricity which enabled the introduction of assembly lines and mass production. Computers then brought in the 3rd industrial revolution with the invent of automation and robotics.
The 4th industrial revolution aka Industry 4.0 is the extension of software through wire, mobile and satellite communications. For large multinationals who have the resources to invest ahead of the curve this is not entirely new.
What brought around the digitalization of industry, this recent fourth industrial revolution is firstly the proliferation of the Internet.
The Internet has been around for 25 years and many businesses like retail have been online for 15 years but the opportunity for small to medium sized industry to have more than just an online brochure required more than cheaper Internet.
This fourth industrial revolution required technology and we call this the digitalization of industry. Industry needed to be able to integrate it's internal systems with the web in a secure and cost effective manner and one of the leaders in this space is Microsoft.
Fast forward to 2017...
Today industry has access to an array of digital services that can bring them in line with Industry 4.0 and in the process improve productivity and increase sales and the best news is that it is inexpensive.
The improved efficiency created by integrating digitally via computer of mobile device with your customers and partners; the potential to increase sales through real time digital marketing campaigns; and the increased productivity achieved through connecting and measuring everything, everywhere that is relevant to your industrial business and it's partners and customers (commonly know as the IoT) are together with the Internet the 4th industrial revolution.
And why is this considered something as grand an industrial revolution?
Bottom line, digital connectivity for industry is here and is a massive game changer of revolutionary proportions in terms of saving costs and increasing sales and early adapters will prosper greatly.
Want to learn more about your Industry 4.0 potential?